Overview Presentation: Definitions and Concepts of Load-Based and First-Seller Approaches Where is the point of regulation in each system and how would these systems generally work? Are out-of-state generators treated differently than in-state generators? How would allocations or auctions be administered in a generator-based vs. load-based point of regulation? What agency is responsible and capable of identifying importing contractual parties? · Julie Fitch, California Public Utilities Commission

10:00-11:30 a.m.

Policy Panel: Overview of Policy Criteria for Load-Based and First-Seller What are the key policy criteria for choosing one system or another? How do they compare on the basis of the principal decision criteria, such as: costs to consumers, ability to control leakage and track emissions, providing economic signals to decision-makers, encouraging investments in energy efficiency and renewables, ability to transition to multi-state or national systems? Moderator: Nancy Ryan, California Public Utilities Commission Panelists: · Dallas Burtraw, Resources for the Future (and Market Advisory Committee Member) · Richard Cowart, Regulatory Assistance Project

Panel Topic 1: Interaction with Energy Markets and Costs to Consumers What impact would either system have on wholesale energy markets? What impact would either have on CAISO and the Market Redesign and Technology Update (MRTU) system? What impact would either system have on rates? Moderator: Kristin Ralff Douglas and Scott Murtishaw, California Public Utilities Commission Panelists: Jim Bushnell, University of California Energy Institute Gary Stern, Southern California Edison Steven Kelly, Independent Energy Producers Association Bruce Biewald, Synapse

2:45-3:30 p.m.

Panel Topic 2: Implications for Allowance Allocation What are the options for allowance allocation under a load-based system or a first-seller system? Does an allocation approach fall logically out of the point of regulation chosen? Can the point of regulation and the entity receiving emissions allowances be different entities? Which approaches best promote an equitable distribution of credits and obligations and prevent windfall profits? What are the risks with either approach? Moderator: Steve Roscow, California Public Utilities Commission Panelists: Ray Williams, PG&E Leilani Johnson, LADWP Claire Breidenich, WPTF

3:30-3:40 p.m.

Break

3:40-4:40 p.m.

Panel Topic 3: Interaction and Compatibility with Other Regulations and Other Jurisdictions How would either system impact the Resource Adequacy, RPS, energy efficiency, and the loading order requirements? How would either system integrate with the Western Regional Climate Action Initiative or the Oregon load-based system? How would these systems interact with a potential federal system? Moderator: David Vidaver, California Energy Commission Panelists: Audrey Chang, NRDC V. John White, CEERT Angus Duncan, Bonneville Environmental Foundation Scott Cauchois, Division of Ratepayer Advocates, CPUC Sarah Rees, UK Consulate

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